Breaking News

You are here » Indian-Commodity  :  Corporate  :  S&P assigns 'A-1+' rating to ICICI Bank's proposed $300 million USCP program


S&P assigns 'A-1+' rating to ICICI Bank's proposed $300 million USCP program

Standard & Poor's Ratings Services (S&P) has assigned 'A-1+' short-term issue rating to ICICI Bank's proposed $300 million US commercial paper (USCP) program. This program is supported by a $300 million irrevocable direct-pay letter of credit (LC) issued by Wells Fargo Bank N.A.

The 'A-1+' rating on this program is equivalent to the short-term counterparty credit rating on Wells Fargo. The Bank will issue the USCPs through its overseas branches in Hong Kong, Bahrain, and New York.

Earlier this month, India's largest private sector bank had raised 100 million Swiss Francs through a seven-year bond issue. The bonds had been rated 'Baa2/stable' by Moody's and 'BBB-/negative' by Standard & Poor's.

Related News

View all news

SML Isuzu reports 49.53% rise in August sales

SML Isuzu has reported 49.53% rise in August sales. The company has sold 960 vehicles during August, 2015 against 642 vehicles sold in August, 2014. Earlier, the company had sold 1,050 vehicles during......

Bajaj Auto reports 2% rise in August sales

Bajaj Auto, the second-largest motorcycle manufacturer has registered rise of 2% in total sales to 3,41,965 units in August 2015 against 3,36,840 units in August 2014. The sales of the motorcycles increased......

Tata Motors reports 40,680 unit sales for August 2015

Tata Motors has reported it sales for month of August 2015, with passenger cars (excluding UV's), M&HCV and Exports, growing by 19%, 31% and 16%, respectively. Total sale of Tata Motors passenger......

Top News

View all news

HDFC Bank, ITC, Infosys and Syngene International to see some action

HDFC Bank, India's second largest private bank, cut its base rate by 35 basis points to 9.35%, from the existing 9.70 percent, thereby making loans from the bank cheaper. Earlier in June, the bank had......

RBI governor finally buzzes to the demand, hints at rate cut

Reserve Bank of India (RBI) Governor Raghuram Rajan finally hinting for a rate cut has said that inflation has come down to the comfort zone quicker than expected and he is keeping a watch on......

RIL, ONGC and Lupin to see some action

Reliance Industries (RIL), owner of the world's biggest refining complex, imported nearly 25 percent more oil in July compared with the previous month, when it had slowed purchases due to a planned maintenance......